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Chevron and partners make FID on Leviathan expansion project [Yahoo! Finance]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
investment decision (FID) to increase the production capacity of the Leviathan platform. The platform is situated roughly 10km off the coast of Dor in Israel. The expansion project is reportedly valued at approximately $2.36bn. This expansion includes drilling three new subsea wells, enhancing subsea infrastructure and upgrading the treatment facilities on the Leviathan production platform. The initiative aims to increase the capacity of the offshore facility to enhance gas supply to Israel, Egypt and Jordan. The Leviathan expansion project is scheduled to commence production by the end of this decade. Chevron Eastern Mediterranean region managing director Jack Baker said: “This milestone demonstrates our ongoing commitment to partner with the State of Israel to develop natural gas resources and provide essential energy to millions of people in Israel, Egypt and Jordan.” The working interest ownership of Leviathan consists of Chevron Mediterranean with 39.66%, NewMed Ene
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